ADVANCED VALUATION Question;Model penilaian massa merupakan kaedah penilaian berasaskan teknik statistik untuk menganggarkan nilai taksiran

secara sistematik pada skala dan skop yang lebih besar berbanding penilaian tunggal (IAAO,1978). Terangkan kelemahan penilaian tunggal Bincangkan keunggulan penilaian massa (mass appraisal) Buat kajian literatur berkaitan model penilaian massa yang digunakan dalam penilaian kadaran

Science And Engineering University of Technology. some scopes of statutory valuation consist of local authority assessment (Rating). Valuation is needed in a variety of statutory valuation exercises. Respectively. it is called the assessment rates. Where the number of properties in certain district or jurisdiction of local authority expanded from time to time. corporate real estate management and so forth. in valuation practice.0 INTRODUCTION Real estate consists of numerous branches of sector and area. These methods are identified as comparison method. Johor. investment method. Some of these methods may become obsolete from time to time due to the fast technological advancement attained in the modern days. the level of rates currently is set by the Local Government and the law governing the rating assessment and procedure must be in accordance to the specific act and regulation pertaining to rating. The revenue collected from rates is allocated for the spending of Local Authorities. Real Property Gains Tax (currently exempted) and land acquisition. . Included in such area are the valuation. As a result. property management. there is a requirement to propose a new method of valuation where it addresses the limitation of single property valuation. Malaysia (UTM) Skudai. the Local Authority has the power to collect assessment rates according to the area of jurisdiction. the valuation exercise for the purpose of rating and assessment is going to be taken into account. Mass Appraisal technique is employed to rectify the flaws occurred in single valuation whereas it is founded from statistical technique to appraise the value of assessment systematically at a bigger and extensive scope or level (IAAO. Specifically. Traditionally. 1998). valuers applied different types of valuation tools in estimating the market value or price of certain real estate. in this write-up. Real Estate Student. Imperatively. the rating valuation utilizes a few approaches where it involves valuing the subject property one by one. Within this provision. 1. Mass Appraisal is manipulated to test two of the objectives in property assessment procedures including the equity principle and fair market value (Donnelly. In Malaysia for instance. Each of these scopes has its own regulation and act whereby valuation principle should be based on these as a guideline. As a result from the process of taxation. There are a few methods of valuation apply in order to determine the Improved Value or Market value of a particular property in this circumstance. single valuation seems to be irrelevant due to several factors or drawbacks.MASS APPRAISAL IN PROPERTY TAXATION Wan Norhishamuddin Wan Rodi MSc. In addition. profit or account method and last but not least the residual approach. Faculty of Geoinformation. cost method. the assessment rates are imposed according to the provision stipulated under the Local Government Act 1976. Rating is basically a local taxation imposed on property whereby the purpose is to finance the local government in terms of providing services to public people. In Malaysia. real estate agencies. Stamp Duty. The purpose of valuation and appraisal conducted is to determine the amount of levy on that property (Ahmad Ariffian & Hasmah. However. 2003).

the Benefits of Mass Appraisal Technique. 4) Utilization of small number comparables may poses theoretical and empirical questions. 3) Many valuation information may be discarded in single property valuation.1989).Working in an environment of cost constraints. Based on the literature. it is basically a systematic appraisal of groups of properties at specified date using standardized procedures and statistical testing (Kauko & d Amato. IAAO [1990. The principles of equity and efficient appraisal are very imperative to be achieved in property taxation and appraisal.0 DRAWBACKS OF SINGLE PROPERTY APPRAISAL Single property appraisal seems to provide a few drawbacks inside the property taxation context. 2008). Ibrahim. To expand further. 2. This write-up will discussed and ventured further into the Weaknesses of Single Property Valuation. Ibrahim (2009) also highlights about two purposes of mass appraisal. Within the mass appraisal. and finally Mass Appraisal Model in Property Taxation. have important implications for government valuation departments with responsibility for property tax assessment . which is to provide equitable and efficient appraisal of subjected property located in a jurisdiction of local authority for ad-valorem duty. pp234) The above statement specifies in general where it will acts as a foundation to identify the weaknesses of Single Property Appraisal. 1989) Highlights the drawbacks of single valuation where it resulting the appraisal exercises carried out become biases from the work of individual that select the comparable properties directly from a small number of properties. 1) possibility of systematic valuation error. 2009. 1) Possibility of Systematic Valuation Error It is observable that the traditional approach of single property appraisal may lead to the systematic valuation error. From the definition provided it can be inferred that it is an advanced technique of appraisal whereas involving the statistical approach and testing.- . It has been examined that. and reflecting the scale of having to value hundreds of thousands if not millions of properties as of a given date. (Mcluskey & Anand. This may as well create erroneous valuation estimation and biased valuation exercise. 2008. single property appraisal largely depends on the subjective judgment of the appraiser or valuer rather than strong and reliable basis of estimation. As such. (Donnelly. Evidently from Mcluskey & Anand (1999) where they established a standpoint on the drawbacks of single property appraisal. statistical approaches are manipulated to produce the accuracy and consistency in valuation. and lastly. there are about a few flaws that can be identified including. chapter 5] and Gloudemans [1999. chapter 5]) cited in IAAO. reviewed from a few influential real estate researchers. 2) inflexibility in terms of time and cost constraint. It seems to attract a few drawbacks that will influenced the overall context of property taxation. limited resources. 1999.

dependant on the other elements where it combined together. pp352). it requires a highly qualified valuation professional to provide these objective assessments of value. The property can be divided into various types including residential. It is uneconomic and time consuming if a traditional method of valuing one by one property is adopted. individual physical attributes are largely prejudiced due to the difficulty in creating a measurement scheme to formulate all the attributes inside the property assessment. The value of each component relies on the others which are there. pp298 and 308) as cited in Donnelly (1989). commercial. bungalow. Within the single property appraisal.The logistics of providing accurate and defensible assessments of value on a frequent revaluation cycle is an extremely demanding and often impossible task . The weakness of the method of valuation may itself leads to the systematic error in appraisal. there is a possibility of double counting where it is related to the misleading notion of composition where total is simply from the sum of all parts (Donnelly. For instance. 1977. Judging from this scenario. Time and Cost Constraint Valuation for the purpose of taxation in the context of local government involves a massive and large quantity of properties inside their jurisdiction. (Portnov et. 2001. By far. single property valuation is subjected to the restriction . Donnelly (1989) further gives an example of fourth and fifth bedrooms in a house with single bathroom are not as the same value with two or more bathrooms inside the other house. and industrial property. This might as well producing incorrect rateable value for that particular property. 1989). and others. 2) Inflexibility. The statement above indicates the predicament of subjectivity where it will creates a systematic valuation error when utilizing the traditional approach. detached. Lessinger (1969) cited in Donnelly (1989) was obviously objected the grocery checker approach in real estate appraisal as the real property component are not divisible. Lessinger (1969) perspective suggest the real estate component is not always the same. single property appraisal may become inflexible due to the vast number of properties that will need to value and appraise. (Sumka. It could be further segregated into a different sub-type including the terrace. In cost the problems encountered in such efforts are the subjectivity inherent in evaluating the individual physical attributes of the dwelling unit and the difficulty of estimating a weighting scheme for combining the attribute measures into a single index . Portnov et. Ultimately. a valuer may employ a wrong judgment when valuing a property for taxation purpose due to the lack of experience or relevant knowledge pertaining to the market and valuation (2001) observes. semi detached.

in time and cost. . Sumka (1977) further explains that one cannot simply ignore the abundant evidence within the tax appraisals. the appraiser usually utilized a small number of comparables in their valuation and further applied it to similar property (under his subjective judgment) to achieve standardization. Some properties may locate in a different area or district. Is it fair to give a same assessment when. In this scenario. This is mostly because. Using the traditional method. e.g: within the Johor Bahru city centre(urban) and another one situated in Tampoi (suburban) where the level of local authority services differs from each other? This situation may not fulfill the criteria of equity and fair assessment. It is hard actually to find a set of comparables having a similar characteristics. this element should not be taken lightly as it will influence the property value itself. Donnelly (1989) emphasized the lackness of comparable properties used in property taxation exercises may raises the theoretical and empirical question. the traditional method does not address in detail the element of locality and neighborhood when conducting the estimation of market value. the use of traditional method does not permit the use of additional information obtain from the property (Donnelly. the principles of equity and fair market value are hard to accomplish. one property is located. However. 1989). there is a theoretical and empirical questions that might occur when employing such technique. The elements encompassing the property value such as neighborhood factor that varies from one district to another requires the valuers to pay attention on these additional information. In reality. For instance. It will take a vast number of workers and high cost of capital to value all the properties within the stipulated time. 3) Many Valuable Information will be Discarded in Single Property Valuation. The above statement is true based on the perspective of Donnelly (1989). many information gather by the appraiser may have to be discarded in most cases. 4) Utilization of Small Number Comparables May Poses Theoretical and Empirical Questions. Without consideration of other elements or information in the traditional approach.

2) More Valuable information can be considered within the Mass Appraisal model. These drawbacks have attracted and ignite the interest of real estate researchers to come up with an alternative method to rectify the drawbacks exist. but generally they relate to aspects of greater objectivity. 1999. In general. 1) Provide accuracy and consistency. the statement above will be formulated into a framework when identifying the benefits of mass appraisal. any errors and misguided elements might be minimized. 1999) standpoint. pp221) Judging from this. fairness. improvements in equity.. Ibrahim (2009) objectively stated the mass appraisal as a tool and approach that able to fabricate an accurate and equitable valuation. 1989. The perspective further supported by Donnelly (1989) where he observes. based on (Mcluskey & Anand. Using an extensive statistical procedures with high degree of precaution to model and test the result. It can be divided into. The application of modern technology such as computer program e.3. According to literature review conducted from various research papers. there are several benefits and superiority of Mass Appraisal as to compare with Single Property Appraisal. Mass Appraisal tends to provide a solutions and very beneficial when conducting assessment exercises. the provision of regular or annual revaluations. 3) Increase efficiency and technical capabilities of the valuer s office.The application of regression analysis to the attribute data would assure consistency and could facilitate an analysis of the relationship of assessment values to selling prices of the property . .g. 1) Provide Accuracy and Consistency Mass appraisal provides a precise and consistent result that can be used continuously and tested to produce a reliable appraisal model. ( Donnelly.The advantages of mass appraisal and in particular computer assisted mass appraisal are well documented.0 SUPERIORITY OF MASS APPRAISAL Previously. this piece of paper has underlined the drawbacks and disadvantages of single property appraisal. fairness and economies of scale . pp11) The used of statistical approach and computerized system reduced the substantial reliance on valuation officer s subjective judgment and experience that might leads to systematic errors. (Mcluskey & Anand. 4) improvements in equity. Computer Mass Appraisal Systems (CAMA) made it possible to produce a consistent result applied in the local authority assessment.

Additionally. there is a unique situation of having to mass value several hundred thousand properties utilizing a database which could contain many thousands of transactions . Within this scope. 1999. 3) Increase efficiency and technical capabilities of the valuer s office The statement above agreed by Ibrahim (2009). it will reduced the total number of profesional valuers needed to cover that area and subsequently reduce the cost such as transportation and other operating expenses. The use of more advance and highly reliable computer make it possible for the valuers to conduct the assessment using large scale and extensive data.2) Large Data handling within the Mass Appraisal One of the superiority of mass appraisal is in regards to the number of information that could be formulated inside the appraisal for taxation (Donnelly. 1989). As a result. the results produced are quicker than the single property appraisal as the assessment subjected to a cluster of properties. Single property appraisal normally disregards many information that would become imperative in determining the assessment value. it demonstrates the mass appraisal able to handle a hundred thousand of properties and establishing a database encompassing a thousand transactions. Mass Appraisal provides a substantial benefits towards increasing the efficiency and technical capabilities of the valuer s office. (Mcluskey & Anand. Mass Appraisal is also able to replicating the forces of supply and demand over a bigger and wider area and the appraisal judgment would expanded into a group of properties rather than single properties (Ibrahim. Due to large data handling. 2009). pp218) Based on this perspective. 1989). Mcluskey & Anand (2008) assert. The labor force can be allocated at the other crucial tasks in the process of property taxation. the mass appraisal technique is the best approach that capable of handling large data set to allow fuller usage of the information (Donnelly. Mass appraisal also enhancing the technical capabilities of the valuer s office through the usage of highly sophisticated and faster computer programme in the taxation exercises. By using the Mass Appraisal when assessing a large number of properties that covers a broad jurisdiction. . 2009). not single property (Ibrahim.Within the field of mass appraisal.

4) Improvement in the equity and Fairness The utilization of large number comparables manage to generate a result that cater the equity and fair market value principles (Donnelly. the intended goals of property taxation. equity and fairness possibly will be achieved using the Mass Appraisal technique. Mcluskey & Anand (1999) . Strengths and Weaknesses Previous study conducted by a few researchers cited in Mcluskey & Anand (1999) highlighted the strengths and weaknesses of a few mass appraisal techniques being employed in the property taxation. Refer to Table 1.- Table 1. In single property appraisal. This will provide some understanding on the subject matter. the assessment posed an issue of equity and fair market value because the assessment do not reflect the overall population of properties within the jurisdiction. utilized a large number of properties as comparable and used it to produce a result that would reflect the overall market or population. As a result.0: Analysis of Mass Appraisal Technique Source.0. Judging from this situation. the comparable properties adopted in the assessment process are in a small number usually four properties according to Donnelly (1989). Mass appraisal on the other hand. 1989). Mass Appraisal Techniques.

S. 2008.Generalized Additive Model (GAM) by Mason & Quigley (1996).V. Models that have been used in Mass Appraisal are numerous and relatively new techniques grow tremendously in line with the technological advancement.4. for example. identify the variables (supply and demand factors) that influence value..C. Additive. Geographically weighted regression (GWR.e Kriging. Mass appraisal models attempt to represent the market for a specific type of property in a specified area. . Successfully. This guidance gives details on important aspect of modeling technique in property taxation where it should adhered to a known scientific standards without prejudicing the correct statistical applications. 2008) in one of the most influential Mass Appraisal paper.. there is a requirement to provide a meticulous and extensive market analysis for both specification and calibration of a model that estimates values accurately. It is apparent in IAAO (2008). In general.e. There are a few steps transpire when selecting Mass Appraisal technique as an appraisal tools. the dollar amount the market places on each square foot of living area . Fotheringham) by Páez and colleagues (2002). . there are about a few processes identifiable in Mass Appraisal exercises. for example. that is. Colwell & Munneke (2003) proposed piecewise parabolic multiple regression analysis (PPMRA).Mass appraisers must first specify the model. However.1) Orthodox Approaches to Mass Appraisal.0 MASS APPRAISAL MODEL AN OVERVIEW OF MODELS IN MASS APPRAISAL Earlier. 2005) 1. square feet of living area. . The explanations provided hopefully will give some understanding to the reader vis-à-vis the reason for the application of Mass Appraisal approach in property taxation. In regards to the statistical procedures. determine the adjustments or coefficients that best represent the value contribution of the variables chosen. 13 of IVS (I. Multiplicative and Hybrid.7 asserts that The development of Mass Appraisal Systems for property taxation should follow recognized scientific standards in statistical applications. Then. Some of the models or techniques being used (Kauko & d Amato. that is. this review has identified the weaknesses of single property appraisal and further stressing out the superiority of Mass Appraisal over single appraisal.model driven hedonic and data driven statistical approach. there is an important aspect that should be emphasized when conducting a literature review on Mass Appraisal whereas in regards to the Mass Appraisal Model existed and manipulated by researchers and property experts. General models as highlighted by Ibrahim (2009) identified three types. Subsequently. the writer was able to identify more models that have been used by studying the literatures. MRA combines with advance spatial techniques i. . the Guidance Note n. MRA. pp8) Based on the regulation and guideline above. 2) Flexible (i. (IAAO. mass appraisers must calibrate the model. model free) regression method .

Flexible (non-/semi-parametric) quantitative methods. Moreover. contingent valuation method (CV). these are still formally accommodated within mainstream economic modelling. where interviews and surveys such as multi-criteria decision methods replace market data calculation. Rough set theory (RST). 4) Qualitative technique of computerized data processing. Case-based reasoning. 5) Methods based on interviews and surveys. Methods.3) Heresy / other technique beside MRA. usually both quantitative in the sense that they are mathematical.. (Artificial) neural networks (ANN). Fuzzy logic. The genetic algorithm. using either transaction price or expert interviews data. The multi-attribute value tree (MAVT).specified problem settings. machine learning) methods from the computer science discipline. Flexible quantitative method based on machine learning. and qualitative in the sense that they use judgmental data. these are intelligent (i. y y y y . These stated choice/preferences methods serve a purpose in certain well. economic equilibrium) models either with or without an explicitly spatial extension.e. the models that exist in the Mass Appraisal are theoretically grouped into five areas as articulated by Kauko & d Amato (2008). Rule-based expert system. Rule-based expert systems of valuation. may be based on machine learning.y Strict quantitative method based on parametric hedonic regression (or more generally.

2006). the framework for selecting the model is ultimately supported by the three models of Mass Appraisal. 1)Function Replacing System. Goontilake & Khebbal (1995) cited in (Mcluskey & Anand. and the usage of Hybrid Model. In Section 3 of the Standard Valuation Model.1 MASS APPRAISAL MODEL SUBJECTED TO THIS STUDY INTRODUCTION Discoveries made when reviewing the various models in Mass Appraisal provide a brief and concise perspective to general reader. Multiplicative and Hybrid (Ibrahim. there are a few research paper outlining the definition. Before venturing further into these aspects. 2) Inter Communicating Systems and. Additionally. Hybrid Model also known as Nonlinear model are seldom used due to limited software availability. 2003 pp148) cited in Rossini & Kershaw (2006). 3) Polymorphic Systems. 1999) classify the hybrid systems into three forms. 1999) attempted to provide detail justification on hybrid system where they defined it as a system where two or more techniques are combined in a manner that overcomes the limitation of individual techniques. Credibility of an AVM is dependent on the data used and the skills of the modeller producing the AVM" (IAAO." a mathematically based computer software program that produces an estimate of market value based on market analysis of location. The IAAO standards define an automated valuation model (AVM) as. it is imperative to understand the meaning of AVM. the time frame limitation resulted the writer to opt for only one Mass Appraisal Model as a study case. Multiplicative and Hybrid. they may offer a suitable solution to the valuation of land for site value purposes in situations where the number of sales is low. HYBRID MODEL As far as concern. Goontilake & Khebbal (1995) cited in (Mcluskey & Anand. and real estate characteristics from information that was previously and separately collected. The distinguishing feature of an AVM is that it is a market appraisal produced through mathematical modelling. 2009). model specification. Hybrid Model is selected as a subject study due to the fact that it possesses certain advantages as to against other model. Rossini & Kershaw (2006) have declared that this model may produces superior results to simpler AVM's and may be particularly useful in a situations where improved properties need to be used to estimate site value.4. To instigate with. . The AVM can be segregated further as Additive. 2003). Additive. Nevertheless. AVM Standard.e. i. To address these models one by one would requires a substantial efforts and in-depth knowledge. but these models more accurately reflect the combination of additive and multiplicative relationships in the real estate market (IAAO. market conditions. Within the scope of Hybrid. generally called a "thin market" (Rossini & Kershaw. it emphasizes that Hybrid (nonlinear) models are a combination of additive and multiplicative models .

Jensen et al. produced by McCain. Example of Hybrid Specification. The hybrid model specification is: MV = GQ * [( BQ * BA) + ( LQ * LA) + OA] Where. Jensen et al. Gloudemans (1999) cited in (O'Connor. the hybrid model specification takes into the form of non-linear regression as specified in IAAO (1990). As a result.000 arm s length transactions to develop a two stage hybrid model.- . liveable area and building condition in a non-linear regression.MV is the estimate market value GQ is the product of general qualitative variables BQ is the product of building qualitative variables BA is the sum of building additive variables LQ is the product of land qualitative variables LA is the sum of land additive variables OA is the sum of other additive variables.HYBRID MODEL SPECIFICATION In Mass Appraisal. McCain. The neighbourhood variable was then combined with land area. 2002) and thus permit the development of non linear computer programme. (2003) cited in Rossini & Kershaw (2006) where they used some 40. (2003) Hybrid Model is specified as follow.

endeavored the intelligent hybrid model within the application of property taxation. The first stage concerned on estimating a neighbourhood index for each property which was then used as input to a hybrid regression model. The neighbourhood index was estimated from the residuals of a simple hedonic model (using building and site characteristics) and then used a Kriging process to smooth out the variation.4. McCain. Hybrid model was far more better when assessing the site value and actual assessed value conducted by valuers in this research paper. (2003) cited in Rossini & Kershaw (2006) where their study involved developing a two-stage hybrid model. liveable area and building condition in a non-linear regression. the research paper concentrating towards investigating the hybrid structures using artificial neural networks with genetic algorithms. 3) employing nearest neighbor algorithm with derived weights. 4) used comparable to predict the value of subject property. In detail.2 PREVIOUS RESEARCH APPLYING HYBRID MODEL The writer managed to analyze a few research papers formulating the hybrid model in their analysis. One of the prominent researchers in Mass Appraisal. Their study focusing on investigating the reliability of hybrid artificial intelligent system developed and applied to the mass appraisal of residential property. this model proved to be effective even with a small set of descriptive variables . Jensen et al. 1) data mining. . This neighbourhood variable was then combined with land area. The result from the analysis recommend the hybrid model as a functional and reliable due to better predictive accuracy than more simple models for capital values. Additionally. Mcluskey & Anand (1999) adopted fourstage process. 2) calculate weights for each variable. Another research paper by Rossini & Kershaw (2006) has established a Hybrid Automation Valuation Model in their analysis whereby the study was aimed to investigate the usefulness of hybrid AVM s to estimate both capital and site values and establish if such a model could outperform more conventional methods of assessment. As affirmed by Rossini & Kershaw (2006). Mcluskey & Anand (1999) on the other hand.

. reliability or missing functionality through using another technique or combination of techniques (Mcluskey & Anand. Also. hybrid model provides the ability to objectively select and retrieve comparables based on an integrated neighbor algorithm where it leads to a development of a solid foundation and transparent mass appraisal system. This Model is able to address the weaknesses of individual Model such as the shortcomings in terms of performance. Next. it is a useful model as it incorporate a broad range of market transaction when assessing site values and the most suitably applied when legislation or legal precedent requires valuers to consider the use of improved properties when assessing site values. Beside the previously mentioned benefit of higher predictive capability. 1999).4. as a model that can be used to estimate both capital and site values with good accuracy and is particularly useful for estimating site values in situations where there is a scarcity of vacant land transactions. Rossini & Kershaw (2006) viewed the hybrid model. 1) using a combining techniques. it is theoretically more acceptable to some analysts and better for assessing the value component which are normally used when revising valuations after minor renovations (Rossini & Kershaw. 2) due the weaknesses in model explainability of neural networks and genetic algorithms. 2006). there are a lot of advantages and superiority of Hybrid Model as to compare with other model.3 CRITIQUES TOWARDS THE HYBRID MODEL Hybrid model seems to serve a quite substantial benefits and advantages as to compare with other modeling techniques in Mass Appraisal. the model can be build on the particular strengths of each paradigm. However. As observed before. the lack of statistical programme and analysis pretty much becomes an hindrance to the development of advance hybrid model in property taxation. 3) avoid complete reliance towards subjective knowledge to determine the property attributes through information inherent within the data. Mcluskey & Anand (1999) stressed about three benefits of hybrid model as.

more valuable information can be considered within the mass appraisal model.0 CONCLUSION This review intended to embarks on a brief an concise analysis towards Mass Appraisal particularly on the topics such as the weaknesses in single property appraisal. In Malaysia s context. at the same time maintaining the accuracy standards. inflexibility in terms of time and cost constraint. subsequently needed further research into the development of more robust techniques. However. this study able to discover the weaknesses of single property appraisal whereas it consists of possibility of systematic valuation error. In respect to the Models in Mass Appraisal. even the application of Mass Appraisal is still at the introductory and initial level as to compare with the US and European counterpart. like some saying. and lastly. This is true as to assist in achieving a more cost-effective approach. fairness makes it more preferable in most of the Local Authority in all part of the world including in Malaysia. better late than never . Mass Appraisal is by far the most superior than Single Property Appraisal judging from the benefits it serves to property taxation field. The potentiality of Mass Appraisal Model is quite promising i. These findings further leads to the rationale of Mass Appraisal introduction in property taxation. 1999). Many valuation information may be discarded in single property valuation. the writer cited the statement by (Mcluskey & Anand. and improvements in equity. The beginning of Mass Appraisal in Malaysia eventually reflecting an excellent gesture towards achieving an efficient. where they highlighted some points to ponder on Mass Appraisal. one of the models. Hybrid appears to provide an imminent potential that has yet to be explored in Malaysia property taxation. increase efficiency and technical capabilities of the valuer s office. The benefits such as providing accuracy and consistency. the findings really satisfied the writer s hunger for a knowledge in this particular area.5. equitable and fair property taxation so as to rectify the long and unsettled issues raised currently on local authority unfair and inequitable assessment within their jurisdiction scattered across nation. The application of computer assisted mass appraisal systems is becoming more imperative than ever. . superiority of mass appraisal and modeling technique in Mass Appraisal. utilization of small number comparables may poses theoretical and empirical questions. The explanation was made on a brief context but substantially extensive in term of opening up the research possibilities in the near futures.e. In general. To wrap up this study.

Integrating GIS & CAMA 2003 Conference (pp. An Analysis. & Hasmah. (1975). M. (2005). M. Twelfth Annual Pacific-Rim Real Estate Society Conference Auckland. October). (2002). Ibrahim. MULTIPLICATIVE & NON-LINEAR. Sayce. (1994). Zulkornain. Auckland: UPmarket Software Services Pty Ltd. (2008). (2009. Lawton.. Skudai. Skudai: Universiti Teknologi Malaysia. 1-24. New Zealand. Pengenalan Kepada Penilaian Statut. A case study of Glasgow. 2006 (pp. (1999). Standard On Mass Appraisal of Real Property. Percukaian Negara Islam: Perbandingan Percukaian Moden dengan Islam. The Application of the intelligent Hybrid technique for the mass appraisal of residential properties. O.. P. Broadening Your Horizons. Missouri: International Association of Assessing Officers. TRICKS TO USING REGRESSION. Z. Chicago: International Association of Assessing Officers.. Introduction: Suitability Issues in Mass Appraisal Methodology. & Hasmah. S. Lecture Note on "Single Property Appraisal" for MSc Real Estate Student. (2003).25th. ADDITIVE. 218-238. 1-28). . P. (1998). Rossini. S. I. Prinsip Penilaian Statut. Skudai: Universiti Teknologi Malaysia (UTM).. (1989). Johor. (2001).. The Taxation of Property.Bibliography Ahmad Ariffian. (2003). B. The Methodology of Housing Value Assessment. & d Amato. & Kershaw. An Analysis of Rating Valuation Methodology for Non-profit Orientated Leisure Property. Donnelly. (2008). Ahmad Ariffian. Mcluskey. P. Y.. Real Estate Research . Kauko. W. Hedonic Modelling for Housing. Suriatini. Kuala Lumpur: Dewan Bahasa Dan Pustaka. AVM Standard. 1-12. 1-20). T. January 22nd . Journal of Property Investment and Finance . IAAO. Z. Malaysia. P. IAAO. B. London: The Royal Institution of Chartered Surveyors. A. Scotland . O'Connor. Texas: International Association of Assessing Officers. A. London: The Institute for Fiscal Studies. (2006). & Anand. S. W. & Connellan. Can a Hybrid Automated Valuation Model Outperform Individually Assessed Capital and Site Values. A.

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